Federal Bank revamps mobile app, announces cash back offer

Federal Bank has announced the launch of revamped version of its mobile application FedMobile with added services and a cash back offer on first transaction of the customer.

“As a launch offer, the bank has announced a cash back of Rs. 50 for customers who initiate a transaction worth Rs. 100 or above as their first transaction using the new version of FedMobile. The cash back amount will be credited to the customer’s account within 24 hours of the transaction. This offer is valid up to July 31, 2015,” the Kerala-based private sector bank said in a statement.

Apart from transfer of funds to accounts within the bank, FedMobile facilitates funds transfer to other bank accounts as well which can be done through NEFT and IMPS modes.

Using FedMobile, one can also avail value-added services like top up/recharge of mobile phones, payment of utility bills, payment of school fees etc. FedMobile is integrated with the bank’s e-passbook App, FedBook, thus facilitating the access of FedBook through FedMobile, the statement said.

The new version is currently available in smart phones with Android Version 4 upwards, and will soon be made available in iOS, Windows and Blackberry-based phones, it said.

K A Babu, Head – Retail Business, said: “Federal Bank has made its mark in the digital space with game changing innovations like FedBook, Scan N Pay etc. The bank has ambitious plans and programmes for giving a unique digital experience to customers. We have already introduced the state-of-the-art payment solution, Scan N Pay, which is equally good for person to person payment and person to merchant payment. The bank is in the process of onboarding large aggregators to this QR-based payment solution…. We expect at least one million customers to avail FedMobile before the close of this fiscal.”


Source : Thehindubusinessline